Originally i thought with a weakening Jap economy(May Be) I thought the CAD would be able to break out on such pass strong Performance of late . However my view has changed because the Cad was unable to produces any good data today with
Manufacturing coming at
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A higher than expected reading should be taken as positive/bullish for the CAD, while a lower than expected reading should be taken as negative/bearish for the CAD.
and
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A higher than expected reading should be taken as positive/bullish for the CAD, while a lower than expected reading should be taken as negative/bearish for the CAD.
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unemployement
this was on the 9/03/2012 http://watch.bnn.ca/#clip634753
Followed by 16/03/2012 http://watch.bnn.ca/#clip639347
on the up side on
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I guess some people are living Good Buying New cars and all that, which probably due to the stats below
On the 2nd march 2012
Canadian real GDP rose 0.4% in the fourth quarter after advancing .0% in the third quarter. Consumer spending and exports contributed the most to fourth quarter GDP Growth
Consumer price index rose on the 20th January 2012 to 2.3% in 12 months to December , following a 2.9 increase in November 2011.
Technically you can see for your self that we could be topping out in an overbrought to neutral situation. However, for now the Bulls should Waite for a pull back and bears might wanna scalp down.
Me personally i'm short only because with the current news today the cad didn't' qualify it to break out and continue on its bull run. Low volume falling stochastic and with a break of my trigger line and possible end of a 5th wave up i think we should be headed down. in the short term however it is Still early so we have to Waite and see.
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